Today, Flowserve Corp. (FLS) Receives $42.68 Consensus PT from Analysts

Today, Flowserve Corp. (FLS) Receives $42.68 Consensus PT from Analysts
Flowserve Corp. (NYSE:FLS) has received an average recommendation of “Hold” from the nineteen brokerages that are covering the stock. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.68.

Several equities research analysts have recently weighed in on FLS shares. Zacks Investment Research lowered Flowserve Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Oppenheimer Holdings Inc. reissued a “” rating on shares of Flowserve Corp. in a research report on Thursday, September 8th. Royal Bank Of Canada cut their target price on Flowserve Corp. from $42.00 to $38.00 and set an “underperform” rating on the stock in a research report on Monday, October 31st. Northcoast Research reissued a “neutral” rating on shares of Flowserve Corp. in a research report on Tuesday, August 16th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $54.00 target price on shares of Flowserve Corp. in a research report on Tuesday, August 2nd.

In related news, CEO Mark A. Blinn sold 119,232 shares of Flowserve Corp. stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $41.64, for a total value of $4,964,820.48. Following the sale, the chief executive officer now directly owns 194,194 shares in the company, valued at $8,086,238.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.95% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its stake in Flowserve Corp. by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 12,021,967 shares of the company’s stock worth $543,032,000 after buying an additional 30,583 shares during the period. Vanguard Group Inc. increased its stake in Flowserve Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 11,447,256 shares of the company’s stock worth $517,073,000 after buying an additional 308,756 shares during the period. EdgePoint Investment Group Inc. increased its stake in Flowserve Corp. by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 5,033,473 shares of the company’s stock worth $242,815,000 after buying an additional 14,214 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Flowserve Corp. by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,557,539 shares of the company’s stock worth $171,616,000 after buying an additional 61,094 shares during the period. Finally, FMR LLC increased its stake in Flowserve Corp. by 52.1% in the second quarter. FMR LLC now owns 3,100,745 shares of the company’s stock worth $140,061,000 after buying an additional 1,061,907 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Shares of Flowserve Corp. (NYSE:FLS) opened at 46.84 on Tuesday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 40.66 and a beta of 1.55. The firm has a 50-day moving average price of $44.38 and a 200 day moving average price of $46.79. Flowserve Corp. has a 52-week low of $33.86 and a 52-week high of $52.50.

Flowserve Corp. (NYSE:FLS) last issued its earnings results on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.10. Flowserve Corp. had a return on equity of 17.93% and a net margin of 3.60%. The business had revenue of $943.33 million for the quarter, compared to analyst estimates of $974.29 million. During the same period last year, the business posted $0.81 EPS. Flowserve Corp.’s revenue was down 14.0% on a year-over-year basis. Analysts expect that Flowserve Corp. will post $2.15 earnings per share for the current year.

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